Edgestream Partners L.P. Boosts Stock Position in General Dynamics Co. (NYSE:GD)

Edgestream Partners L.P. lifted its holdings in shares of General Dynamics Co. (NYSE:GD) by 116.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,662 shares of the aerospace company’s stock after buying an additional 1,431 shares during the period. Edgestream Partners L.P.’s holdings in General Dynamics were worth $752,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of GD. Legend Financial Advisors Inc. grew its holdings in shares of General Dynamics by 46.8% in the 1st quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock worth $32,000 after acquiring an additional 36 shares during the period. Diversified Trust Co grew its holdings in shares of General Dynamics by 2.5% in the 1st quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock worth $425,000 after acquiring an additional 36 shares during the period. Fulton Bank N.A. grew its holdings in shares of General Dynamics by 1.1% in the 1st quarter. Fulton Bank N.A. now owns 3,299 shares of the aerospace company’s stock worth $932,000 after acquiring an additional 37 shares during the period. Copperwynd Financial LLC grew its holdings in shares of General Dynamics by 3.7% in the 4th quarter. Copperwynd Financial LLC now owns 1,056 shares of the aerospace company’s stock worth $274,000 after acquiring an additional 38 shares during the period. Finally, Woodward Diversified Capital LLC grew its holdings in shares of General Dynamics by 2.3% in the 4th quarter. Woodward Diversified Capital LLC now owns 1,727 shares of the aerospace company’s stock worth $448,000 after acquiring an additional 39 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GD. JPMorgan Chase & Co. increased their target price on General Dynamics from $280.00 to $298.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $320.00 target price on shares of General Dynamics in a research report on Wednesday, July 17th. Citigroup increased their target price on General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Barclays increased their target price on General Dynamics from $285.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, Jefferies Financial Group raised General Dynamics from a “hold” rating to a “buy” rating and increased their target price for the stock from $305.00 to $335.00 in a research report on Monday, April 29th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $307.94.

General Dynamics Stock Down 4.1 %

Shares of General Dynamics stock traded down $12.13 during trading hours on Wednesday, hitting $282.33. 1,110,635 shares of the company’s stock traded hands, compared to its average volume of 1,051,852. The stock has a 50 day simple moving average of $293.11 and a 200-day simple moving average of $281.82. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. The company has a market cap of $77.46 billion, a PE ratio of 22.87, a PEG ratio of 1.66 and a beta of 0.60. General Dynamics Co. has a twelve month low of $213.47 and a twelve month high of $302.75.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.88 EPS for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). The firm had revenue of $10.73 billion during the quarter, compared to analyst estimates of $10.26 billion. General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the business posted $2.64 earnings per share. Equities research analysts anticipate that General Dynamics Co. will post 14.54 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be paid a $1.42 dividend. The ex-dividend date is Friday, July 5th. This represents a $5.68 dividend on an annualized basis and a yield of 2.01%. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

Insider Buying and Selling

In related news, CFO Kimberly A. Kuryea sold 13,344 shares of General Dynamics stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $298.16, for a total value of $3,978,647.04. Following the completion of the transaction, the chief financial officer now directly owns 79,255 shares in the company, valued at $23,630,670.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other General Dynamics news, CFO Kimberly A. Kuryea sold 13,344 shares of General Dynamics stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $298.16, for a total value of $3,978,647.04. Following the completion of the transaction, the chief financial officer now directly owns 79,255 shares in the company, valued at $23,630,670.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Mark Lagrand Burns sold 12,089 shares of General Dynamics stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $296.59, for a total value of $3,585,476.51. Following the completion of the transaction, the vice president now owns 64,132 shares of the company’s stock, valued at $19,020,909.88. The disclosure for this sale can be found here. Over the last three months, insiders sold 118,486 shares of company stock worth $34,391,642. Corporate insiders own 1.52% of the company’s stock.

General Dynamics Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.